MAPIC: Henderson completes refurb of Italian mall

Henderson Global Investors has completed a €6 mln refurbishment at its Metropolis Shopping Centre in Cosenza, Italy.

The shopping centre, which is owned by the Henderson European Retail Fund (Herald), has been refurbished in order to develop 12 new retail units at the site. This has been achieved by reducing the existing hypermarket at the centre.

Leasing demand for the new units has been significant with pre-lets secured on all of the new units to a host of Italian and international brands ranging from Harmont & Blaine, Silvian Heach and Blue Spirit to Accessorize. The first of the new units will commence trading from 28November.

In addition, the centre’s food court has been renovated and money has been invested into aesthetics across the centre.

Mario Pellò, head of portfolio management in Italy, commented: 'The investment made at the centre is both testament to our belief in the Italian retail market and representative of our confidence in this particular centre as we aim to further strengthen its reputation as a top retail destination.

'The exceptional response from both national and international brands, combined with the rental levels achieved, demonstrates that despite on-going economic concerns, quality shopping centres remain attractive to retailers.'

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